2013 saw a surge in company formations in Swansea, according to a new economic report from Duport.co.uk.
Derby smashed its own record for company formation during 2013, according to the latest Duport Business Confidence Report for the area.
Last year saw a bumper crop of new companies setting up in Cardiff, with company formations reaching an all-time high.
Company naming records and SIC (Standard Industry Classification) data contained in the latest Duport Business Confidence report highlight a thriving engineering industry in Middlesbrough.
According to the report, the most popular word to be used in new company names between June 2011 and June 2012 was "Engineering", whereas the most popular word used in the UK as a whole was "Consulting".
SIC data included in the report also showed that 15% of companies completing their annual return to Companies House during the last 36 months categorised themselves as engineering, technical or scientific. SIC codes are used to classify business establishments by the type of economic activity in which they are engaged. The data excludes companies less than 12 months old, as businesses do not have to submit an SIC code until they have been trading for one year.
The Teesside region is an international centre for the chemical and process industries and also hosts major automotive, aerospace, engineering design and construction industries, so it is hardly surprising that so many new companies are opening up in the scientific and engineering fields.
Managing Director of Duport.co.uk, Peter Valaitis said:
"The Middlesbrough economy was founded on traditional heavy industry, and it suffered with the decline of the iron and steelworks."
"However, the growth in modern technical industries shows that the area is moving with the times and finding a new identity as an engineering hub."
The Duport Business Confidence Report for Middlesbrough includes economic data that provides an insight into the local economy and business landscape. Duport Business Confidence Reports are published quarterly for every area of the UK.
Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.